Latvenergo AS - Company Profile
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Latvenergo AS (Latvenergo) is a leading energy supply service provider in the Baltics. The company is primarily engaged in the generation and trade of electricity and thermal energy, as well as the trade of natural gas. Its major products and services include electricity distribution and energy efficiency solutions. The company operates under the Elektrum brand, offering a range of related products and services. Latvenergo serves a diverse customer base, including households and businesses, across various industries. The company operates a comprehensive distribution network through its subsidiary, Sadales tikls AS, which is the largest distribution system operator in Latvia. Latvenergo's operations span the Baltic states, targeting markets in Latvia, Lithuania, and Estonia. Latvenergo is headquartered in Riga, Latvia.
Headquarters
Latvia
Address
12 Pulkveza Brieza Street 12, Riga, Riga , 1230
Website
www.latvenergo.lv
Telephone
371 67 728222
No of Employees
3,436
Industry
Power
Revenue (2024)
$1.8B
Latvenergo AS premium industry data and analytics
Products and Services
| Products | Services | Brands |
|---|---|---|
| Electricity | Corporate management | Elektrum Solar |
| Solar Energy | Electricity and Thermal Energy Supply | Elektrum Green |
| Thermal Energy | Assets Lease and Maintenance | Energo pulss |
| XYZ | XYZ | |
| XYZ | XYZ | |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2026 | Contracts/Agreements | In February, the company engaged JP Morgan-led financial and legal advisors to support acquiring Telia’s stakes in Tet and LMT. |
| 2025 | Contracts/Agreements | In July, the company signed a memorandum with LVRTC and Telia Company to begin acquiring Tet and LMT shares. |
| 2025 | Others | In June, the company purchased the 147 MW Pienava wind farm project from Eolus. |
Competitor Comparison
| Key Parameters | Latvenergo AS | CEZ, AS | IREN SpA | Slovenske elektrarne as | Ignitis Gamyba AB |
|---|---|---|---|---|---|
| Headquarters | Latvia | Czech Republic | Italy | Slovakia | Lithuania |
| City | Riga | Praha | Reggio Emilia | Bratislava | Elektrenai |
| State/Province | Riga | Karlovy Vary | Emilia-Romagna | Bratislava | Vilnius |
| No. of Employees | 3,436 | 31,521 | 11,311 | 4,553 | 402 |
| Entity Type | Private | Public | Public | Private | Private |
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Martins Cakste | Chief Executive Officer | Senior Management | 2022 | 50 |
| Guntars Balcuns | Chief Financial Officer | Senior Management | 2015 | 46 |
| Harijs Teteris | Chief Operating Officer | Senior Management | 2022 | 68 |
| Ilvija Boreiko | Chief Development Officer | Senior Management | 2024 | 49 |
| Dmitrijs Juskovecs | Chief Commercial Officer | Senior Management | 2022 | 51 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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